In December 2017, we saw both the CME Group and CBOE both take Bitcoin to the next level of legitimacy. They launched bitcoin futures, a market where buyers or sellers could “bet” on the future price of the cryptocurrency.
Futures are a tool that has been used by traditional investors for a while now. But the introduction of bitcoin futures took crytocurrency one step closer to mainstream adoption.
Well, as many of you may have guessed, those running futures markets are already looking to another cryptocurrency.
In mid-May of 2018, London-based digital asset exchange, Crypto Facilities, announced that it would be launching Ether futures.
While many people may not have heard of Crypto Facilities, they likely have heard of the former employer of their founder, Timo Schlafer. Schlafer used to work for the London branch of Goldman Sacks. This is just part of a really interesting trend.
The future of mainstream crypto is coming
Getting these types of executives are not unique to Crypto Facilities. We’re seeing more and more high level finance and banking executives make a significant career change towards blockchain and cryptocurrency.
This whole development is especially exciting for believers in Ethereum, as this is the first time that Ether will be traded in a regulated market. The fact that this is happening in the United Kingdom is a big deal. Other countries look at their financial policies for reference; they are influencers.
The UK sanctioning Ether futures trading may lead other countries to rethink their positions. Exchanges may find themselves in a position where they have to adapt in order to compete. If Ether futures were not on the radar of these exchanges before, they are now.
Business on the Blockchain is a new series aimed at keeping you up to date on all of the big business moves towards blockchain technology. More and more businesses are exploring cryptocurrencies and blockchain, and we’re here to help you understand how some of these businesses are making this transition. It’s an exciting time for blockchain adoption, check out which businesses are jumping onto the wave!
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